PROPERTY firms plan to launch residential projects worth more than Bt100 billion in Bangkok and its suburban areas in the third quarter of this year.
The launches, by listed and non-listed companies, will add more 17,000 units to the market for the quarter, as developers look ahead to strong demand in the second half.
The bullish figures come from a survey by LPN Development that shows developers are focusing on projects with condominiums priced at more than Bt2 million.
“We believe that most of the listed and non-listed property firm will speed up their new residential project launches in the third quarter of this year when most of them see strong demand for residential purchases at this time,” LPN’s research report said.
In the first half of this year, 60 condominium projects were launched, providing 34,580 units worth Bt117.67 billion. These figures are up 22 per cent and 51 per cent, respectively, from the same period last year. Listed developers accounted for 73 per cent of all project launches, the report found.
Tapping the strong demand in the market, most property firms have launched promotional campaigns to boost their sales in the third quarter.
Listed property firm Origin Property Plc plans to launch four residential projects worth more than Bt10 billion in the second half of this year after the company reported presales of Bt4.2 billion in the first half.
“We are confident our total presales and total revenue will achieve the targets we set of Bt14 billion and Bt9 billion for the end of this year,” chief executive officer Peerapong Jaroon-Ek said in a press statement yesterday.
For the first quarter of this year the company reported revenue of Bt877.94 million and net profit of Bt171.93 million.
Property Perfect Plc also demonstrated its confidence in the market with the launch yesterday of the Metro Luxe Rose Gold Phahol-Sutthisan, a Bt1.07 billion condominium project. It has appointed Plus Property Co Ltd as its sales agent for the project.
Property Perfect also plans to launch eight new residential projects – covering condominiums, single-detached houses and townhouse - worth Bt14.17 billion. This will drive its total revenue to Bt22.2 billion by the end of this year, with expectations of presales reaching Bt16.6 billion by that time, the company’s managing director Wongsakorn Prasitvipa said at press conference yesterday.
Raimon Land Plc introduced the Loft Silom, worth Bt3.5 billion, yesterday. The project will offer prices at Bt210,000 per square metre. The project has attracted bookings for up to 40 per cent of the units.
Sansiri Plc plans to launch 16 projects worth Bt39.26 billion and continue to jointly invest with BTS and explore additional partnerships in the second half of this year, expand its international markets, develop new projects under the brand HAU and use innovation to promote better living.
The developer’s optimistic view follows a strong first half during which it reported sales of Bt15 billion, representing almost 20 per cent year-on-year growth. Sales from international markets reached Bt3.7 billion. The company is confident of achieving its full-year sales target of Bt36 billion, its chief executive officer Apichart Chutrakul said.
Among the promotional campaigns announced by developers for the third quarter, Ananda Development Plc is offering discounts of up to Bt300,000 for customers who buy properties at any of its 14 condominium and townhouse projects showcased at the Think of Living 2017 event from July 20-26, at Central Ladprao.
Origin Property is offering discounts of up to Bt500,000 for home-buyers who sign up for a unit at one of its projects when visiting the company’s booth at the same event.
SC Asset Corp has launched a promotion with discounts of up to Bt5 million per unit for home-buyers who commit to purchasing one of its properties priced between Bt2 million and Bt60 million at the Think of Living show.
The company also will introduce eight projects – condominiums, townhouses and detached housing – at the week-long event. SC Asset is also presenting its ready-to-stay residences in order to boost presales in the current quarter.